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Well, you're not gonna get the $5000 from the dealership for trading in. That's just the case. You may get about $2000-3000 and they'll tack the rest of what you owe onto the loan for the new LS1. That's because you're upside-down on this loan, you owe more than the car is worth to the dealership.
You could also sell it privately, with the condition that once it's paid for, you will send them the title. Most people are pretty understanding about this. You may get your $5000 that way. That's probably your best option, that way you don't owe anything more than the loan for the LS1.
Good luck bro! You will LOVE your LS1, regardless of the model. It's a bitchin' engine and the cars ain't bad either!
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